SWATANTER KUMAR, J.

( 1 ) PUNJ Lloyd Insulations Limited is a company duly registered under the companies Act, 1956 filed a suit for injunction praying for grant of a decree for permanent injunction in favour of the plaintiff and against defendant no. 2, restraining him from encashing the bank guarantee dated 8. 11. 99 which was valid upto 30th September, 2001. Separate injunction is prayed for against the bank/defendant no. 1 for making any payment under the said bank guarantee to defendant no. 2. In the plaint it was stated by the plaintiff that they had entered into an agreement for supply and application job of thermal insulation to the equipment and pipe work for the Paradeep Phasphatic Fertilizer of the defendant no. 2. On 6. 11. 99 the work was awarded to the plaintiff. The plaintiff was required to furnish bank guarantee towards mobilisation advance and performance of the contract to the extent of 10% and 5% respectively of the agreed value of contract which was Rs. 2. 50 crores. The plaintiff furnish two bank guarantees issued by defendant no. 1 towards the mobilisation advance and the performance bank guarantees valid upto 17th May, 2000 with invocation period upto 17. 11

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